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July 14th - Amidst heightened investor anxiety over a sell-off in AI-driven tech stocks, this weeks earnings reports from TSMC (TSM.N) and ASML (ASML.O) are more significant than ever. TSMCs capital expenditure plans are among the most closely watched data points in Nvidias supply chain, while ASMLs capacity planning will provide crucial clues about the industrys expansion pace. Market expectations for both companies earnings have now reached almost unassailable levels, making previously surging stocks more susceptible to pullbacks after the results are released. Pepperstone strategist Dilin Wu stated, "The market is currently in a very fragile position. These two earnings reports from ASML and TSMC will either support this sell-off or exacerbate the decline. Either way, the market reaction could be very pronounced." TSMC previously stated that its capital expenditures this year will approach a record $56 billion, but UBS predicts that the figure could reach as high as $60 billion.On July 14, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian stated that the Tanzania-Zambia Railway (TAZARA) is a historical monument to China-Africa friendship. More than 50 years ago, despite its own severe economic difficulties, China resolutely decided to assist in the construction of the TAZARA, providing strong support for the national liberation and development of countries in the region. The people of China, Tanzania, and Zambia joined hands and worked shoulder to shoulder during the construction of the TAZARA, jointly forging the great spirit of the TAZARA and leaving a valuable spiritual legacy for future generations. Lin Jian stated that, standing at a new historical starting point, China is willing to work with Tanzania and Zambia to jointly promote the revitalization and prosperity of the TAZARA railway, jointly building a road of freedom, development, friendship, happiness, green development, and harmony, helping the three countries and other countries in the region to jointly build modernization, and injecting new and inexhaustible impetus into the construction of an all-weather China-Africa community with a shared future in the new era.Commander of Ukrainian drone forces: Ukrainian drones have hit 11 more Russian ships in the Sea of Azov.July 14th - A recent Bank of America global fund manager survey shows that global investor sentiment has risen to its highest level since February. Fund managers are more optimistic about the global economic outlook, AI-related spending, and the Federal Reserves dovish policy. The survey shows that fund managers cash allocation ratio has fallen to an "extremely low level" of 3.6% from 4.1% in June, triggering a contrarian sell signal from Bank of America. Meanwhile, a record proportion of respondents expect a "no-landing" scenario for the global economy. The survey was conducted from July 2nd to July 9th, between the temporary ceasefire agreement reached between the US and Iran and the renewed escalation of the conflict.July 14 - Due to rainfall, the inflow to Fengman Reservoir (Jilin Fengman) on the Songhua River in Jilin Province reached 10,900 cubic meters per second at 2 PM on July 14. According to the regulations for numbering floods in major rivers, this flood is designated as "Songhua River Jilin Section 2026 No. 1 Flood".

WTI stays in positive zone despite a dip in Asia

Jan 10, 2023 14:43

截屏2022-12-29 下午4.54.13_1024x576.png 

 

West Texas Intermediate, or WTI, is down during the Asian session, losing about 0.4% at the time of writing amid optimism that China's demand will increase after the government set new import limitations. However, overnight and at the start of the week, the news provided economic support for its faltering economy, while the US Dollar sank, allowing investors to enter the black gold rise at a lower cost.

 

China has reopened its borders to international visitors for the first time since March 2020, when it implemented travel restrictions. Elsewhere, China has continued to demolish a large portion of its draconian zero-COVID movement regulations. According to the BBC, incoming travelers will no longer be required to be quarantined, marking a dramatic change in the country's Covid policy as it fights an outbreak. They will continue to require documentation of a negative PCR test conducted within 48 hours after flight.

 

As a result, oil prices increased early on Monday in anticipation of an uptick in demand from China, as the nation set new import curbs and offered economic support to its faltering economy. Last observed, spot West Texas Intermediate crude was priced at $ 74.57 per barrel.

 

ANZ Bank analysts explained: "China announced a new batch of import limits, an indication that the world's largest importer is gearing up to meet increased demand."

 

"The relaxation of COVID-19 regulations has already increased travel. According to the Ministry of Transport, approximately 34.7 million domestic journeys were made on the first day of the Spring Festival travel rush. This is around 40% higher than comparable days in 2022. Approximately 2.1 billion trips are anticipated during the next 40 days. This comes amid tightened supply,'' the analysts added.

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